Again in 2014, Indiana Dairy Producers will be awarding the Indiana Dairy Producer of the Year and the Indiana Young Dairy Producer of the Year Awards.  These awards are to recognize outstanding accomplishment, professionalism, and leadership among Indiana's dairy producers.  Award recipients will be announced at the IDP annual meeting on March 13, which is held in conjunction with the Indiana Livestock Forage and Grain Forum in Indianapolis.

The Indiana Dairy Producer of the Year is awarded to a dairy producer who has portrayed the dairy industry in a positive light and has been successful in the dairy industry over a period of time.  Past recipients were Fred Beer (2007), Tom Neuenschwander (2008), Doug Leman (2009), Dave Forgey (2010), Brian Rexing (2011), Leontien Van de Laar (2012) and Derek Herrema (2013).

The Indiana Young Dairy Producer of the Year is awarded to a dairy producer, 35 years of age or younger, who is actively involved in a successful dairy farm and shows promise as a leading dairy producer for this industry's bright future in Indiana.  Past recipients were Lukas Hively (2007), Joe and Amy Kelsay (2008), Max and Carrie Jo Bollenbacher (2009), Nathan and Sarah Kuehnert (2010) Kerry and Christiana Estes (2011), Kelly MacKennon (2012) and Brian Houin (2013).

Hello IDP members! I'm Kari Keller-Steele, and my team and I are Ag Environmental Systems, LLC.  With 15 years of experience, we specialize in navigating livestock producers through the complex and ever-changing world of government regulations.  A few of our services include:

�    Manure Management Planning

�    IDEM operating records

�    IDEM & county construction permitting

�    NRCS comprehensive nutrient management planning   

 
Each farm and each situation is different; let us tailor a set of services specific to you.  Because YOU have enough to do, let us help keep you focused on production!

I am very excited about my involvement with IDP and look forward to meeting you at an upcoming meeting or event. We are extending a free on farm consultation to all IDP members. Please call 765-825-0495 for more information, or visit our website at agenvironmental.net. 

In an ongoing effort to ensure the highest quality veterinary diagnostic services for the citizens of Indiana today and in the future, an ADDL/Heeke Laboratory External Review Team was established.  A very important part of the review process is getting feedback from the many stakeholders of these laboratories.  The information provided is essential to the continuing improvement of our laboratories.  As part of this process, a survey has been provided and can be taken at this  link. Please take a few minutes of your time to give some feedback to assist Purdue Animal Disease Diagnostic Laboratory improve services.  

Simple ways to start protecting feed prices

Mike Rusch, Stewart-Peterson 

   Feed prices are at some of the most attractive levels we've seen in the last 3 years. Corn is down approximately 50 percent from its high of $8.44 from September. While the sell-off takes some pressure off of expenses, the caution is to not become complacent. It is typical for most large market moves to re-trace some portion of the move. Even a routine 50% price correction upward in an overall bear market for corn would result in a corn futures price of $6.25.

   In addition, there are several fundamental reasons to believe that the risk of the corn price going higher from here outweighs the opportunity of the corn price going much lower from here. These reasons include demand renewal, export commitments and ramped up ethanol production.

   If you do not have much experience with price risk management, understand that you can learn slowly, with baby steps. It's not necessary to go "all in" when you're first learning about the markets. In fact, it isn't advisable if you do not know what you are doing. As with all "power tools," you should either be an expert or hire one.  

   Now would be a great time to explore while locking in some protection for feed. One simple way to get started is to use call options. Here is an example of how that would work:

Let's say you need to purchase 5,000 bushels of corn on April 1.  Between now and then the price of corn, and therefore your cost, could be much higher.  Since the April 1 price of corn is currently unknown, your risk is effectively unknownas well.   A simple means of limiting and defining your risk is to buy a call option that will protect you from higher prices until the time you purchase your corn feed. If the price of corn does indeed go higher, the option gives you the right to purchase corn at a lower price sometime in the future (plus commission and fees and the cost of the option). If the price of corn goes lower, our option would likely be worthless; however, for a relatively small price, we have given ourselves protection against a big risk of higher prices. Think of the call option as price insurance.

   Feed is the number one cost center on your dairy, and fortunately, it is one of the easiest places to dip your toe into the price risk management waters. We suggest that you test the waters now, before a price correction hits and you are learning in a high-price, high-pressure environment.

Mike Rusch is with Stewart-Peterson Inc., a commodity marketing consulting firm based in West Bend, Wis. You may reach Mike at 800-334-9779, or email him at mrusch@stewart-peterson.com